Exhibit 99.1

 

LOGO

FOR RELEASE THURSDAY, OCTOBER 25, 2018

 

Investor Contact:   Press Contact:

Kenneth Levy

Iridium Communications Inc.

+1 (703) 287-7570

ken.levy@iridium.com

 

Jordan Hassin

Iridium Communications Inc.

+1 (703) 287-7421

jordan.hassin@iridium.com

IRIDIUM ANNOUNCES THIRD-QUARTER 2018 RESULTS; COMPANY

RAISES 2018 OUTLOOK

•    2018 Outlook for Service Revenue Growth Raised to Approximately 14%  

•    2018 Outlook for OEBITDA Raised to Approximately $300 Million

MCLEAN, Va. – October 25, 2018 – Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”) today reported financial results for the third quarter of 2018 and updated its full-year 2018 outlook. Net loss was $12.9 million, or $0.13 per diluted share, for the third quarter of 2018, as compared to net income of $29.3 million, or $0.23 per diluted share, for the third quarter of 2017. This decrease in net income was primarily the result of a $39.2 million increase in depreciation and amortization expense from the year-ago period, reflecting an increased number of Iridium NEXT satellites in service. Operational EBITDA (“OEBITDA”)(1) for the third quarter was $79.4 million, as compared to $71.8 million for the prior-year period, representing a year-over-year increase of 11% and an OEBITDA margin(1) of 58%. OEBITDA benefitted from higher commercial service revenue and continued strength in equipment sales.

Iridium reported third-quarter total revenue of $136.8 million, which consisted of $105.7 million of service revenue and $31.0 million of revenue related to equipment sales and engineering and support projects. Total revenue increased 17% versus the comparable period of 2017, while service revenue grew by 18% from the year-ago period. Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, was 77% of total revenue for the third quarter of 2018.


The following information was filed by Iridium Communications Inc. (IRDM) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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